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MIRA INFORM REPORT
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Report No. : |
506835 |
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Report Date : |
05.05.2018 |
IDENTIFICATION DETAILS
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Name : |
EMERALD HAVEN REALTY LIMITED (w.e.f. 05.01.2012) |
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Formerly Known
As : |
GREEN EARTH HOMES LIMITED (w.e.f. 12.10.2011) GREEN EARTH HOMES PRIVATE LIMITED (w.e.f. 19.05.2011) HARITA REALTY PRIVATE LIMITED |
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Registered
Office : |
1st Floor, Greenways Towers, No. 119, St. Marys Road, Abhiramapuram,
Chennai – 600018, Tamilnadu |
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Mobile No.: |
91-8807787878 (Mr. Gireesh Gangadharan) |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
02.06.2010 |
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Com. Reg. No.: |
18-075953 |
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Capital
Investment / Paid-up Capital : |
INR 820.000 Million |
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CIN No.: [Company Identification
No.] |
U45200TN2010PLC075953 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AACCH4288E |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Construction of residential complex (Registered Activity) |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 3220000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2010. It is a part of TVS group. It is engaged in the business of real estate. As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. As per the financial of 2016, the company has reported a decline in its revenue as compared to the previous year’s revenue but has managed to maintain a fair profitability margin of 13.76%. The company has sound net worth base backed by strong capital structure along with low debt balance sheet profile. However, rating is constrained on account of low reserve base and absence of latest financial record. Rating takes into consideration the financial and managerial support that the company receives from the TVS Group. Business is active. Payment seems to be slow. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 05.05.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Gireesh Gangadharan |
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Designation : |
Director |
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Contact No.: |
91-8807787878 |
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Date : |
30.04.2018 |
LOCATIONS
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Registered Office/ Corporate Office : |
1st Floor, Greenways Towers, No. 119, St. Marys Road, Abhiramapuram,
Chennai – 600018, Tamilnadu, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-8807787878 (Mr. Gireesh Gangadharan) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Sales Office 1 : |
TVS Emerald LightHouse, 200ft. Radial Road, Zamin Pallavaram Village, Pallavaram, Chennai – 600 117, Tamilnadu, India |
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Sales Office 2 : |
TVS Emerald Enclave, 5th Avenue, Nedungundram, Perungalathur, Chennai – 600 063, Tamilnadu, India |
DIRECTORS
As on 2018
|
Name : |
Vangipuram Navaneetham Venkatanathan |
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Designation : |
Director |
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Address : |
Old No.25, New No.34, Nachiappan Street, Mahalingapuram, Chennai
-600034, Tamilnadu, India |
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Date of Birth/Age : |
07.08.1945 |
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Date of Appointment : |
02.06.2010 |
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PAN No.: |
AACPV1071C |
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DIN No.: |
00059273 |
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Other
Directorship:
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Name : |
Kuppusamy Iyengar Gopaladesikan |
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Designation : |
Director |
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Address : |
T-3, Mithila, Old No.8 & 8A, New No.15 & 17 Justice Sundaram
Street, Mylapore, Chennai 600004, Tamilnadu, India |
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Date of Birth/Age : |
23.03.1964 |
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Date of Appointment : |
02.09.2011 |
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PAN No.: |
AAJPG2566J |
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DIN No.: |
00067107 |
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Other
Directorship:
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Name : |
Surbhi Singhi |
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Designation : |
Director |
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Address : |
131, Jodhpur Park, Kolkata-700068, West Bengal, India |
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Date of Appointment : |
02.03.2018 |
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DIN No.: |
03275338 |
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Other
Directorship:
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Name : |
Lakshminarasimhan Bhadri |
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Designation : |
Director |
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Address : |
16/12, Kesava Perumal Sannadhi Street, Mylapore, Chennai-600004,
Tamilnadu, India |
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Date of Birth/Age : |
21.06.1964 |
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Date of Appointment : |
23.03.2015 |
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PAN No.: |
AAXPL7927N |
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DIN No.: |
06829886 |
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Other
Directorship:
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Name : |
Mr. Gireesh Gangadharan |
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Designation : |
Director |
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Address : |
New No.48, Old No. 53, Archana Apartments, 1st Floor, SMV Koil Street,
Triplicane, Chennai-600005, Tamilnadu, India |
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Date of Birth/Age : |
12.07.1984 |
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Date of Appointment : |
23.03.2015 |
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PAN No.: |
ANJPG5260G |
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DIN No.: |
06857408 |
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Other
Directorship:
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Name : |
Seeplaputhur Ganapathiramaswamy Murali |
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Designation : |
Additional Director |
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Address : |
Plot No.8, Shruthi 515, Housing Colony, Hal III Stage, Bangalore-
560075, Karnataka, India |
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Date of Appointment : |
24.08.2017 |
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DIN No.: |
00348902 |
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Other
Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Ganesh Venkataraman |
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Designation : |
Chief Financial Officer |
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Address : |
102, GITC, Block II, III Main 5th Cross BTM Stage II, Bilekahalli, Bangalore- 560076, Karnataka, India |
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Date of Birth/Age : |
21.07.1966 |
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Date of Appointment : |
18.05.2015 |
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PAN No.: |
ACKPG7438G |
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Name : |
Mr. Ramasarma Chandra Mouli |
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Designation : |
Chief Executive Officer |
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Address : |
4079, 18th Main, 30th Cross, Banashankari II, Stage, Bangalore-560070, Karnataka, India |
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Date of Birth/Age : |
01.11.1959 |
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Date of Appointment : |
17.03.2015 |
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PAN No.: |
AAUPM6978M |
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Name : |
Mr. Ramani Sankaranarayanan |
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Designation : |
Chief Executive Officer |
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Address : |
104, Ac Block 2nd Street, 6th Main Road, Anna Nagar, Chennai 600040, Tamilnadu, India |
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Date of Birth/Age : |
18.04.1986 |
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Date of Appointment : |
17.03.2015 |
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PAN No.: |
AJJPR5912Q |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
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No. of Shares |
|
Venu Srinivasan |
|
21420000 |
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Mallika Srinivasan |
|
21420000 |
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Lakshmi Trust, Represented by Srinivasan, Trustee |
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20579996 |
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Sudarshan Venu Trust, Represented by Venu Srinivasan, Trustee |
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20580000 |
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TVS Motor Company Limited, India |
|
80000000 |
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V N Venkatanathan |
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2 |
|
K Gopala Desikan |
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2 |
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Total |
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164000000 |
Equity Share Break up (Percentage of Total Equity)
As on 31.07.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
26.12 |
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Promoters (Body corporate) |
48.78 |
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Promoters (Others – Trust) |
25.10 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Construction of residential complex (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
V Sankar Aiyar and Company Chartered Accountants |
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Address : |
41, Circular I Floor, United India Colony, Kodambakkam, Chennai-600024, Tamilnadu, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFV0781D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary company
(As on 2017) : |
· Emerald Haven Development Limited CIN No.: U45200TN2008PLC068511 · Emerald Haven Projects Private Limited CIN No.: U74140TN2010PTC075022 · Emerald Haven Life Spaces (Radial Road) Limited CIN No.: U70200TN2016PLC110981 |
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Associates (As on
31.03.2016): |
TVS Motor Company Limited |
CAPITAL STRUCTURE
As on 31.07.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
170000000 |
Equity Shares |
INR 10/- each |
INR 1700.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
164000000 |
Equity Shares |
INR 10/- each |
INR 1640.000 Million |
|
|
|
|
|
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Equity Shares |
INR 10/- each |
INR 900.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
82000000 |
Equity Shares |
INR 10/- each |
INR 820.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
820.000 |
820.000 |
820.000 |
|
(b) Reserves and Surplus |
308.372 |
173.079 |
8.343 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1128.372 |
993.079 |
828.343 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
43.771 |
6.759 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
43.771 |
6.759 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
129.369 |
130.897 |
149.235 |
|
(b) Trade
payables |
44.824 |
111.216 |
6.847 |
|
(c) Other
current liabilities |
63.600 |
97.432 |
363.340 |
|
(d) Short-term
provisions |
23.700 |
16.730 |
1.125 |
|
Total Current
Liabilities (4) |
261.493 |
356.275 |
520.547 |
|
|
|
|
|
|
TOTAL |
1389.865 |
1393.125 |
1355.649 |
|
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II.
ASSETS |
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|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
11.348 |
9.393 |
4.132 |
|
(ii)
Intangible Assets |
0.367 |
0.522 |
0.727 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
425.000 |
425.000 |
100.000 |
|
(c) Deferred tax assets (net) |
2.247 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
0.000 |
0.000 |
275.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
438.962 |
434.915 |
379.859 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
45.086 |
97.463 |
148.546 |
|
(b)
Inventories |
472.357 |
507.051 |
438.899 |
|
(c) Trade
receivables |
91.620 |
20.258 |
3.087 |
|
(d) Cash and
bank balances |
14.671 |
75.340 |
34.768 |
|
(e)
Short-term loans and advances |
325.933 |
257.290 |
350.475 |
|
(f) Other current
assets |
1.236 |
0.808 |
0.015 |
|
Total
Current Assets |
950.903 |
958.210 |
975.790 |
|
|
|
|
|
|
TOTAL |
1389.865 |
1393.125 |
1355.649 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
983.058 |
994.581 |
274.355 |
|
|
Other Income |
18.716 |
11.970 |
11.497 |
|
|
TOTAL |
1001.774 |
1006.551 |
285.852 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
663.229 |
670.599 |
-- |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
-- |
-- |
213.978 |
|
|
Employee benefit expense |
28.986 |
13.369 |
5.982 |
|
|
CSR expenditure |
1.773 |
0.000 |
0.000 |
|
|
Other expenses |
92.269 |
70.500 |
45.620 |
|
|
TOTAL |
786.257 |
754.468 |
265.580 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
215.517 |
252.083 |
20.272 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
215.517 |
252.083 |
20.272 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.708 |
1.762 |
0.792 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
211.809 |
250.321 |
19.480 |
|
|
|
|
|
|
|
Less |
TAX |
76.516 |
85.585 |
7.260 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
135.293 |
164.736 |
12.220 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.65 |
2.01 |
0.15 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
(238.433) |
264.396 |
275.130 |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
34.02 |
7.43 |
4.11 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
10.73 |
49.10 |
88.87 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
24.67 |
60.53 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.46 |
0.50 |
0.05 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
18.40 |
25.42 |
4.17 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.19 |
0.26 |
0.38 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.11 |
0.13 |
0.18 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.23 |
0.36 |
0.63 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
13.76 |
16.56 |
4.45 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
9.73 |
11.82 |
0.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
11.99 |
16.59 |
1.48 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.64 |
2.69 |
1.87 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.83 |
1.27 |
1.03 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.81 |
0.71 |
0.61 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.16 |
0.16 |
0.18 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets
/ Total Current Liabilities) |
3.64 |
2.69 |
1.87 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
820.000 |
820.000 |
820.000 |
|
Reserves & Surplus |
8.343 |
173.079 |
308.372 |
|
Net
worth |
828.343 |
993.079 |
1128.372 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
149.235 |
130.897 |
129.369 |
|
Total
borrowings |
149.235 |
130.897 |
129.369 |
|
Debt/Equity
ratio |
0.180 |
0.132 |
0.115 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
274.355 |
994.581 |
983.058 |
|
|
|
262.516 |
(1.159) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
274.355 |
994.581 |
983.058 |
|
Profit |
12.220 |
164.736 |
135.293 |
|
|
4.45
% |
16.56
% |
13.76
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
Yes |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
No |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
No |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
No |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATION REVIEW (AS
ON 31.03.2016)
The Company had successfully sold, completed and handed over all the 448 units in Phase I of the development of housing project launched at Nedungundram, Chennai, Tamil Nadu, two months ahead of the date committed to customers.
There are about 300 residents living in the apartment complex, and the residents are quite appreciative of the facilities, open parks, gyms and the quality of life provided therein. The project was unaffected by the recent Chennai floods on account of the care taken in identifying the right land and in building the right storm water drainage system.
Phase II of the development of housing projects at Nedungundram (Project Green Hills Villas) is nearing completion as per schedule and would be handed over soon.
During the year under review, the Company had launched a Group Development and a Villa Project at Kolapakkam very close to the existing project of the Company at Nedungundram, Chennai, Tamilnadu. The initial response for the project is encouraging, considering the fact that the real estate market is recovering from the recent floods.
The Company is exploring options for developing more projects on a Joint Development Basis.
The demand outlook over a medium and long term remains robust and sustainable given the housing shortage India faces.
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G85128759 |
100172199 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
02/03/2018 |
- |
- |
150000000.0 |
11th Floor, Tower A, Peninsula Business Park,Ganpatrao Kadam Marg, Lower Parel,MumbaiMH400013IN |
|
2 |
G49254352 |
100082759 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
09/02/2017 |
19/06/2017 |
- |
654000000.0 |
ONE FORBES,DR. V. B. GANDHI MARG, FORT,MUMBAIMH400001IN |
|
3 |
G78233723 |
10628232 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
27/01/2016 |
- |
23/02/2018 |
150000000.0 |
RAMON HOUSE 169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMH400020IN |
|
4 |
G44813913 |
10571859 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
30/03/2015 |
03/08/2016 |
08/05/2017 |
400000000.0 |
One Forbes,Dr. V. B. Gandhi Marg, FortMumbaiMH400001IN |
|
5 |
C59918011 |
10442153 |
STATE BANK OF INDIA |
17/07/2013 |
18/12/2013 |
08/07/2015 |
500000000.0 |
CORPORATE ACCOUNTS GROUP BRANCH, 3RD FLOOR,18/3, RUKMINI LAKSHMIPATHI ROAD, EGMORE,CHENNAITN600008IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Income tax due (Dispute is pending with Commissioner of
Income Tax-Appeals for the AY 13-14) |
6.834 |
0.000 |
FIXED ASSETS
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 66.77 |
|
UK Pound |
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.
·